The Global Relay Steel Market was valued at US$ 37.77 Billion in 2023 and is projected to reach US$ 62.62 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period. This robust growth is driven by the global push for energy efficiency, rapid electrification projects, and the increasing demand for transformers and electric motors, particularly from the renewable energy and electric vehicle sectors.

As nations worldwide accelerate their transition to sustainable energy and smart grid infrastructure, the demand for high-performance electrical steel—specifically relay steel with its superior magnetic properties—is soaring. This specialized steel is the backbone of efficient power transmission and conversion. In this blog, we profile the Top 10 Companies in the Relay Steel Industry—a mix of global steel giants and specialty producers who are innovating to meet the world’s growing electrical demands.

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🔟 1. Nippon Steel Corporation (NSSMC)

Headquarters: Tokyo, Japan
Key Offering: Grain-Oriented Electrical Steel (GOES), Non-Grain Oriented Electrical Steel (NGOES)

Nippon Steel Corporation is a global leader in the production of high-grade electrical steel, commanding a significant share of the relay steel market. The company’s products are essential components in power transformers, large generators, and high-efficiency motors used worldwide. Their continuous investment in R&D ensures they remain at the forefront of material science for electrical applications.

Innovation & Market Leadership:

• Pioneer in developing ultra-thin, high-permeability grain-oriented silicon steel

• Strategic partnerships with global transformer and automotive manufacturers

• Focus on producing steels that minimize core losses in energy-intensive applications

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9️⃣ 2. POSCO

Headquarters: Pohang, South Korea
Key Offering: Hi-B Steel (Grain-Oriented), Non-Oriented Electrical Steel

POSCO is one of the world’s largest steel producers and a key supplier of advanced electrical steels. The company’s relay steel products are renowned for their consistent quality and high magnetic induction, making them ideal for high-efficiency transformers and motors. POSCO has a strong global footprint, supplying to both established and emerging markets.

Innovation & Market Leadership:

• Extensive production capacity for both grain-oriented and non-oriented electrical steels

• Active in developing eco-friendly manufacturing processes to reduce carbon footprint

• Expansion strategies focused on meeting the surge in demand from the Asian EV and power sectors

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8️⃣ 3. JFE Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: JNE Series (NGOES), JGH Series (GOES)

JFE Steel, another Japanese powerhouse, is a major competitor in the high-performance electrical steel market. The company specializes in producing relay steels that offer low core loss and high magnetic flux density, which are critical parameters for energy efficiency in electrical equipment.

Innovation & Market Leadership:

• Development of advanced domain refinement techniques for grain-oriented steel

• Strong focus on the automotive industry for EV traction motors and auxiliary systems

• Commitment to technological advancement to support global carbon neutrality goals

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7️⃣ 4. NLMK Group

Headquarters: Moscow, Russia
Key Offering: Dynamo Steel (NGOES), Transformer Steel (GOES)

NLMK Group is a leading international steelmaking company with a strong presence in the electrical steel segment. It produces a wide range of relay steels that serve the energy, industrial, and automotive sectors, particularly across Europe and Russia. The company’s vertical integration from raw materials to finished products provides a competitive edge.

Innovation & Market Leadership:

• Significant market share in the European transformer steel market

• Ongoing modernization of production facilities to enhance product quality and yield

• Strategic focus on high-value-added products to navigate global market dynamics

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6️⃣ 5. ThyssenKrupp AG

Headquarters: Essen, Germany
Key Offering: Powercore® (GOES), Non-Oriented Electrical Steel

ThyssenKrupp is a German industrial giant with a renowned electrical steel division. Its Powercore® brand is synonymous with high-quality grain-oriented steel used in the most demanding power transformer applications. The company leverages its European engineering heritage to serve a global clientele requiring precision and reliability.

Innovation & Market Leadership:

• Production of ultra-high permeability grades for next-generation efficient transformers

• Strong R&D capabilities focused on improving magnetic properties and manufacturing efficiency

• Key supplier to Europe’s ambitious grid modernization and offshore wind projects

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5️⃣ 6. AK Steel (Now part of Cleveland-Cliffs)

Headquarters: West Chester, Ohio, USA
Key Offering: Oriented Electrical Steels, Non-Oriented Electrical Steels

AK Steel, now operating under Cleveland-Cliffs, is a leading North American producer of electrical steels. The company’s products are critical for the U.S. power grid infrastructure, automotive industry, and consumer appliances. Their expertise lies in producing sophisticated steel grades that meet strict North American and international standards.

Innovation & Market Leadership:

• Major domestic supplier supporting U.S. energy security and infrastructure resilience

• Investment in advanced annealing and coating technologies for superior magnetic performance

• Integrated supply chain from iron ore to high-value electrical steel products

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4️⃣ 7. ArcelorMittal

Headquarters: Luxembourg City, Luxembourg
Key Offering: Grain-Oriented Electrical Steel, Non-Grain Oriented Electrical Steel

As the world’s largest steelmaker, ArcelorMittal has a substantial presence in the electrical steel market. The company produces a comprehensive portfolio of relay steels used in everything from massive grid transformers to small electric vehicle motors. Its global manufacturing footprint allows it to serve diverse regional needs effectively.

Innovation & Market Leadership:

• Global R&D network focused on developing sustainable steel solutions

• Production of advanced high-silicon steels for ultra-high-efficiency applications

• Commitment to reducing the carbon intensity of its steel products, aligning with global ESG trends

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3️⃣ 8. Baowu Steel Group (BAO Steel)

Headquarters: Shanghai, China
Key Offering: B20R, B23R, B27R Series (NGOES), Grain-Oriented Steel

Baowu Steel Group is the world’s largest steel producer and a dominant force in the Asian relay steel market. The company is central to China’s massive domestic demand for electrical steel, driven by its unparalleled expansion in power infrastructure, renewable energy, and electric mobility.

Innovation & Market Leadership:

• Massive production capacity catering to the world’s fastest-growing electrical steel market

• Government-backed initiatives to achieve self-sufficiency in high-grade electrical steel production

• Rapid advancement in product quality to compete with established international grades

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2️⃣ 9. Stalprodukt S.A.

Headquarters: Bochnia, Poland
Key Offering: Grain-Oriented Electrical Steel

Stalprodukt S.A. is a significant European manufacturer specializing in grain-oriented electrical steel. The company has carved out a niche by focusing on high-quality transformer steel, supplying energy sector customers across Europe and beyond. Its specialized focus allows for deep expertise and product refinement.

Innovation & Market Leadership:

• Specialist producer with a strong reputation for quality in the European market

• Continuous investment in production technology to improve magnetic characteristics

• Strategic location within the EU providing logistical advantages for regional customers

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1️⃣ 10. WISCO (Wuhan Iron and Steel Group)

Headquarters: Wuhan, Hubei, China
Key Offering: High-Grade Grain-Oriented Silicon Steel (Hi-B), Non-Oriented Electrical Steel

WISCO, now part of the China Baowu Steel Group, remains a renowned name in electrical steel production. It was one of the first Chinese manufacturers to master the complex technology for producing high-grade grain-oriented silicon steel, breaking a long-standing international oligopoly.

Innovation & Market Leadership:

• Historic breakthroughs in Hi-B steel production technology

• Critical role in supplying China’s rapidly modernizing national power grid

• Focus on R&D to develop products for ultra-high-voltage (UHV) transmission applications

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Relay Steel Market – View in Detailed Research Report

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🌍 Outlook: The Future of Relay Steel Is High-Efficiency and Sustainable

The relay steel market is experiencing a paradigm shift driven by the global energy transition. While traditional applications in transformers and generators continue to grow, new demand from electric vehicles and renewable energy infrastructure is accelerating market expansion. The industry’s focus is squarely on developing steels that offer lower core losses and higher permeability to maximize the efficiency of the world’s electrical systems.

📈 Key Trends Shaping the Market:

• Rising demand for high-permeability grain-oriented steel for UHV transmission projects in Asia and North America

• Exponential growth in demand for non-oriented electrical steel from the global Electric Vehicle (EV) industry

• Increased regulatory pressure for energy-efficient appliances and industrial motors, driving the need for advanced relay steel

• Strategic investments and capacity expansions by major players to secure supply for the long-term energy transition

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Relay Steel Market – View in Detailed Research Report

The companies listed above are not only supplying a critical material—they are enabling the modernization and decarbonization of the global energy landscape.